The exchange value of a good or service defines its:
A)quality.
B)price.
C)durability.
D)production cost.

Question

Quizplus · Accepted Answer

The exchange value of a good or service is the amount of money that it can be traded for in the market. This is ultimately reflected in its price, making choice B the correct answer. Quality, durability, and production cost are all factors that can affect the exchange value, but they do not define it.

The Exchange Value of a Good or Service Defines Its